MIAX Exchange Group sets September pre-test ahead of October SIFMA BCP exercise

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MIAX September SIFMA BCP pre-test

Highlights

MIAX Exchange Group mandates Regulation SCI designated members maintain disaster recovery connections for 12 months post-notice and participate in annual pre-tests.
Required members must complete minimum trading actions—at least two orders and one execution—during the scheduled disaster recovery exercise at Chicago CH4.
MIAX urges all members to join the October 24, 2026 SIFMA BCP test, aiming to confirm disaster recovery readiness across the group’s options and equities markets.

Testing requirements and schedule

As reported by MIAX Exchange Group, citing MIAX Exchanges Alerts, the exchange group says all designated members required to test under Regulation Systems Compliance and Integrity must maintain a connection to the MIAX disaster recovery environment for 12 months after receiving a mandatory testing notice. During the scheduled exercise, all exchanges are set to operate from the Chicago, CH4, disaster recovery site.

Members subject to the requirement must complete minimum trading actions during the test. Electronic Exchange Members must send at least two orders and receive at least one execution in the designated options, while market makers on MIAX Options, MIAX Pearl Options, MIAX Emerald Options and MIAX Sapphire Options must submit at least one two-sided quote or order, depending on venue, and receive at least one execution.

For equities, mandated members must send at least two orders in the listed symbols and receive at least one execution. MIAX lists NTGR, ZVZZT and NTEST for the equities portion, while the options portion includes selected AAPL, BAC, GE, MSFT and SPY contracts.

Operational impact for exchange members

MIAX says all members are encouraged to take part in the broader October 24, 2026 SIFMA BCP test, even if they are not among the firms required to participate under Regulation SCI. The program is intended to verify firms’ connectivity and order-handling readiness in a disaster recovery setting across the group’s options and equities markets.

The notice also includes a test-day timeline that lists connection availability from 08:30, the live quote window opening at 09:15, the market opening at 09:30 and the close at 13:00, although the timeline in the alert is labeled October 25, 2025. After finishing the exercise, firms are asked to confirm completion with MIAX Trading Operations.

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